I believe @rajeshkav…that u have taken in the lease option , so let me get this clarified by you.
Is the insurance policy by default for leasing plan throughout the 3 years? if yes, then what type of insurance is that- comprehensive or 3rd party?
Also, if the Ather One subscription is a part of the default leasing package?? If yes, what is the total installment per month?
What if i have another insurance coverage from another Vehicle wherein i already have a personal accidental coverage?..is there an option where this can be take into consideration???
Wrt Lease option.
Suppose a new Ather is launched towards the end of the 36 month lease period.
For exchanging with the new bike, will only the deposit be considered or the monthly installment paid towards the 450 be adjusted from the price of the new bike?
Initially I was interested to exchange. However quoted value for my vehicle was very less, hence I did not go for it. You may try your luck, nothing wrong.
My payment window opened yesterday and I’m weighing buy vs lease.
My usage would be very less as the scooter is meant for my wife. I use a motorcycle.
In th efirst post ‘probable earning if the vehicle is sold’ is given as 50k for buy option and 75k for lease option.
But the payment window shows me that I can get 40k back at the end of 36th month and give the vehicle back OR pay 10k and retain the vehicle. So the net value here should be 40k unless you take the vehicle back and sell it in secondary market for higher price. But then the same value should be applicable for ‘buy’ option as well.
secondly, is insurance and atherone subscription free for entire 3 years in ‘leasing’?
It is mentioned as 75k for lease option because if you make a downpayment of 75k, you’ll get 75k at the end of 36 months. it’s the maximum possible downpayment. The 40K you are talking about is the minimum possible downpayment. The higher the downpayment you make the more you get back at the end of the lease period (upon return of the vehicle of course).
The 50k mentioned in the buy option is an assumption…it’s a “probable” value we may get if we sell.
Insurance and Ather One subscription is included for the entire lease period.
Guys,
Thanks for this really helpful thread. I’ve some doubts on the calculation.
Buy option- insurance cost at the end of 1st year shown as ‘0’. Is Ather giving this for 1st year?
2nd and 3rd year cost shown as 7k and 6k approximately.
But I think for all new vehicles, insurance is sold for 5years I think. godigit site also quotes the premium for 5yrs only. which is 3877 for 5rs for 3rd party liability (this is min. required as per law) or 4704 (includes 1year own damage coverage inaddition to 5yrs 3rd party liablity)
If you consider above the cost of ownership at the end of 3rd year should come down by 9k which makes it 1.82L and incurred cost 1.32L
Secondly, I don’t see 5yr plan on Godigit for vehicle damage.
on coverfox, I checked the quotes for TVS Ntorq.
3rd party (5yrs) + vehicle damage (5yrs) is 4k
3rd party (5yrs) + vehicle damage (1 yr) is 3.5k
So what will you do if you want vehicle damage /theft coverage after 1st year?
5 year mandatory insurance started only six months back.
As of now, no insurance provides an option to buy only own damage for subsequent renewals. You have to buy own damage + third party liability.
We are hoping soon all the insurance providers will give an option to buy buy insurance for own damage alone (because we have already purchased the third party liability for 5 years)
Ideally second and third year renewal should not cost more than 2K.
, so let me get this clarified by you.
… I think only deposit will b consider as DEPOSITE PAYMENT for new ather